H.C. Wainwright analyst Robert Burns has reiterated their bullish stance on RLAY stock, giving a Buy rating on November 6.
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Robert Burns has given his Buy rating due to a combination of factors including Relay Therapeutics’ financial position and promising clinical developments. Despite reporting a net loss of $0.43 per share for the third quarter of 2025, which was close to the initial estimate, the company’s financial health remains robust with $596.4 million in cash reserves. This financial cushion is expected to support operations until 2029, providing a stable foundation for future growth.
Additionally, the company’s involvement in the Phase 3 PIKALO-2 trial with LY4064809, a pan-mutant-selective PI3Ka inhibitor, shows potential for significant clinical success. The drug demonstrated promising efficacy in earlier trials, and its combination with other therapies is currently being evaluated against existing treatments for breast cancer. These factors contribute to a positive outlook for Relay Therapeutics, justifying the Buy rating and a 12-month price target of $14 per share.
According to TipRanks, Burns is an analyst with an average return of -2.6% and a 41.25% success rate. Burns covers the Healthcare sector, focusing on stocks such as Exelixis, Replimune Group, and Cullinan Management.